“Separation from Service Exception” IRC documentation

Submitted by Hank Tajkowski on Sat, 2013-04-06 16:33

Anyone know where I can find the exact IRS language that allows penalty-free access to 401k funds for those terminated from work who are 55 or older…? Thanks



Submitted by Alan - IRA critic on Sat, 2013-04-06 20:27

Here is a copy of the Code section:  “72(t)(2)(A)(v) made to an employee after separation from service after attainment of age 55,”

THe IRS also defined attainment of age 55 as applicable any time in the YEAR the employee reaches 55. 

Submitted by Hank Tajkowski on Sun, 2013-04-07 20:36

Alan, Thanks for your help.  I was not able to access the link in your message.  Please cut/paste the hyperlink if possible.Thanks again, Hank.

Submitted by Alan - IRA critic on Mon, 2013-04-08 02:53

It was a copy of a code section, not a link, but here is a  link to the IRS explanation: http://www.irs.gov/taxtopics/tc558.html

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